Well, well ... abandoning wells.
Christ! Who would want to do such a thing? 'Tell us, boss!' Okay, okay. Jason would. 'Jason! What's the matter with him?!' I have no idea, Voice. It's just the way he is, I suppose. Some people are like that.
It's sad, but there's nothing we can do.
Anyway, this is from the PR email ...
Abrado, the industry leader in the surgical removal of multiple casing sections downhole, has appointed Jason Broussard as President and CEO. He will be based at the company's office in Broussard, Louisiana.
And the wells?
With a global remit, Mr Broussard will play a critical role in driving company growth and continuing to create operations and technical excellence in plug and abandonment (P&A). Since its inception, Abrado has developed one-of-a-kind patented technologies for dual string section milling that reduce cost and increase efficiencies throughout well abandonment operations.
It's a real shame.
As a senior leader with two decades of experience in upstream well operations, Mr Broussard joins Abrado from US-based Wellbore Fishing & Rental Tools (WFR), where he held the role of Senior Vice President of Operations.
Prior to that, he spent four years working for Schlumberger, where roles included Director of Operations for North America and Global Product Line Manager for Wellbore Intervention Technologies. He also held a number of management positions with Baker Hughes over an 11-year period, latterly as Regional Operations Manager for Lower Completions in the Gulf of Mexico.
Dear oh dear. He seems to have spent most of his life doing it. 'He's a lunatic, boss!' Maybe, Voice. I wouldn't like to say.
But ... we'll let him speak for himself -
Commenting on his appointment, Mr Broussard says: "I am joining Abrado having followed the company's success and global growth for many years. It is undoubtedly a challenging time for the energy industry, and this has resulted in many operators opting to shut down aging oil wells as production continues to decline. Abandoning wells is fraught with risk however, and therefore operators need innovations that de-risk P&A operations, whilst maintaining efficiency and cost-effectiveness."
Yeah, fraught with risk, but you can tell that our Jason just loves abandoning wells. It's in his blood.
Let's hear from Martyn now ...
Abrado Chairman, Martyn Fear, comments: "We are pleased to welcome Jason to the Abrado team. He brings a wealth of industry experience and technical know-how to the role. This, in addition to his dedication, passion for innovation, proven leadership capabilities and the ability to address industry needs, ideally positions him to take the reigns as President and CEO. I am looking forward to working with Jason to grow the business and continue to bring revolutionary section milling tools to the global market."
Right. It seems that Martyn's another one. Never mind.
Oh, hang on though - !!!
Mr Broussard will replace Matt Anstead who took over as Interim CEO in March, whilst retaining his position as Senior Partner at EV Private Equity, which has backed Abrado since 2013 and remains its largest shareholder.
Ha, ha, ha! Matt has no passion for abandoning wells!
Matt Anstead says: "It is a pleasure to hand over the role of CEO to Jason, who has an excellent track record of driving innovation as well as identifying and capitalizing on key growth markets. Abrado has carved out a niche as the only technology provider in the world with a successful track record of supporting the removal of casing sections by milling. I'm confident that Jason will provide the strategic direction required to build on this success. At EV Private Equity we are proud to back world-class technology companies that make an impact in the energy sector and reduce greenhouse gas emissions, and Abrado is a great example of this."
Yeah, right. / Matt, you're so happy to be going back to the office at EV Private Equity, aren't you? I don't blame you, son. Nice one!
Okay, okay.
ENDS
Oh, a bit about EV Private Equity -
Over the past 18 years, EV Private Equity has become established as a leading technology-enabled impact investor, which is committed to applying its specialist expertise, experience and global reach to build world-class companies generating superior returns while reducing greenhouse gas emissions.
Its distinctive investment strategy is predicated on taking controlling positions in sustainable, high-growth, differentiated technology businesses in the lower mid-market segment. In doing so, it can achieve tangible impact in combatting global warming.
The firm has offices located in Stavanger, Aberdeen and Houston. EV Private Equity maintain partnerships in other locations important to the global energy business, including Brazil, Canada, UK, India and Dubai.
Now it's the ENDS - !!!
...
Anything else? No.
